SINGAPORE : China's Sinochem Group is in advanced talks with state-owned PipeChina for using the energy infrastructure firm's liquefied natural gas terminals after it struck a U.S. deal to buy the superchilled fuel, people with knowledge of the matter said.
China, which overtook Japan as the world's No.1 buyer of LNG this year, sees natural gas as a key bridge fuel along its path to reach carbon neutrality by 2060.Sinochem aims to sign long-term deals to use PipeChina's terminals, including the new 6 million tonne per year facility in Zhangzhou, Fujian province, that's due to start next year, said the sources, who requested anonymity because they're not authorised to speak to media.
As PipeChina opens up terminals to firms outside state majors like PetroChina, poor contractual performance by smaller importers in a volatile spot market is adding to the appeal of Sinochem. The company's trading teams in Singapore, Japan and London, and state-backed credit lines, make Sinochem an attractive buyer for gas suppliers, said the second official.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Adelaide to host two Australian Open warm-upsSYDNEY :Adelaide will host two tournaments, including the Adelaide International, in the lead-up to the Australian Open in January next year, South Australia state Premier Steven Marshall announced on Monday.The Adelaide International was staged as a warm-up to the Grand Slam in 2020, but this year all the wa
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Dollar stands tall as Powell reappointment firms hawkish Fed betsHONG KONG : The dollar was near a four-and-a-half-year top against the yen on Tuesday, after Federal Reserve Chair Jerome Powell was reappointed for a second term, emboldening bets on higher U.S. interest rates.At 114.8 yen the greenback is near last week's peak of 114.97, its highest since March 2017, ha
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Analysis-Investors bet Powell's Fed will get more aggressive on inflationNEW YORK : Investors are betting that newly renominated Federal Reserve Chairman Jerome Powell will need to step up the pace at which the central bank is normalizing monetary policy to better grapple with surging consumer prices.For months, Powell has insisted the current bout of inflation is likely to be
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Some Chinese banks told to issue more loans for property projects - sourcesBEIJING : Some Chinese banks have been told by financial regulators to issue more loans to property firms for project development, two banking sources with direct knowledge of the situation told Reuters on Monday, in efforts to marginally ease liquidity strains across the industry.Chinese authorities have
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Xi says China will not seek dominance over Southeast AsiaChinese leader Xi Jinping on Monday said his country will not seek dominance over Southeast Asia or bully its smaller neighbors, amid ongoing friction over the South China Sea. Xi made the remarks during a virtual conference with the members of the Association of Southeast Asian Nations, or ASEAN, held to mark the 30th anniversary of relations between China and the grouping. Two diplomats said ASEAN member Myanmar was not represented at Monday's meeting after its military-installed government refused to allow an ASEAN envoy to meet with ousted leader Aung San Suu Kyi and other arrested politicians.
Source: YahooSG - 🏆 3. / 71 Read more »
US Justice Dept to pay US$130 million to Parkland victims' families over FBI blunderMIAMI: The US Justice Department is expected to pay US$130 million to the families of victims of the 2018 Parkland shooting in Florida because the FBI failed to investigate two tip-offs about the gunman who went on to kill 17 people at the high school, the New York Times said Monday (Nov 22). Armed with an
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »